NEW YORK – Broadcom Inc. (NASDAQ: AVGO) shares closed in the red on Thursday, but a dramatic late-session recovery and positive after-hours trading are signaling a potentially bullish start to the upcoming week.
The semiconductor giant ended the official trading day at $269.35, down 0.82 (0.30%). The session was a rollercoaster for investors, with the stock opening at $270.30 and hitting an intraday high of $271.85 before succumbing to selling pressure that drove it to a low of $266.88 in the mid-afternoon.
However, the key takeaway from the chart lies in the final hours of trading. Buyers stepped in aggressively after the stock hit its low, sparking a sharp rally into the closing bell. This late-day momentum suggests strong underlying support and investor confidence at those lower price levels.
More importantly, the positive sentiment carried over into extended trading. In after-hours activity, Broadcom shares climbed
270.50. This figure brings the stock back above its previous closing price of $270.17 and its opening price for the day.
Analysis:
The combination of a strong rebound from the day’s low and a positive after-hours performance are key indicators of near-term market sentiment. While the official daily close was negative, the momentum has clearly shifted in favor of the bulls. This late surge often indicates that institutional buyers and bargain-hunters saw the dip as a buying opportunity, a sentiment that could easily spill over into Monday’s trading session.
Outlook for Monday:
Based on the strong finish and positive after-hours trading, the forecast for Broadcom is optimistic. The stock is poised to open higher on Monday, potentially challenging the intraday highs seen last week. The key level to watch will be whether it can sustain trading above the $270 mark, which now acts as a psychological pivot point.
This article is based on an analysis of the provided chart data and does not constitute financial advice. Market conditions can change rapidly based on news and economic events.
